A company Ltd. issued 9000 shares of Rs.100 cash at a premium of Rs.10 per share to purchase the following assets.
| Land and Building | Rs.6,50,000 |
| Office Equipment | Rs.3,40,000 |
Required: Entries for
Ans: Nill
A company purchased following assets at an agreed price of Rs.4,00,000.
| Land and Building | Rs.2,50,000 |
| Furniture | Rs.1,00,000 |
The company paid purchase consideration amount by issuing shares of Rs.100 each at par
Required: Entries for
Ans: Goodwill a/c Rs.50,000
Kathmandu company issued 2000 shares at Rs.50 par value (with Rs.10 premium) per share to purchase machinery of Rs.1,00,000
Required: Entries for
Ans: Goodwill Rs.20,000
A company limited issued 5,000 shares of Rs.100 each at a premium of 10% to purchase the following assets.
| Fixed assets | Rs.5,00,000 |
| Stock | Rs.1,00,000 |
Required: Entries for
Ans: Caital Reserve Rs.50,000
Himal company issued 1,000 shares at Rs.50 per share including premium of Rs.10 each at acquire plant of Rs.1,00,000
Required: Entries for
Ans: Capital Reserve Rs.50,000
A company ltd. issued 4,000 shares or Rs.100 each to purchase the following assets.
| Fixed assets | Rs.4,50,000 |
| Stock | Rs.50,000 |
Required: Entries for
Ans: Capital Reserve Rs.1,00,000
A company Ltd. issued 5,000 shares of Rs.100 each at a premium of 10% to purchase the following assets:
| Machinery | Rs.5,00,000 |
| Furniture | Rs.1,50,000 |
| Creditors | Rs.1,00,000 |
Required: Journal entries for
Ans: Purchase consideration Rs.5,50,000
B. company Ltd took over the assets of Rs.15,00,000 and liabilities of Rs.2,20,000 of A company Ltd at an agreed price of Rs.13,20,000. The purchaser discharged the purchase price by issuing shares of Rs.100 each at 10% premium
Required: Entries for
Ans: (a) Goodwill a/c Rs.40,000 (b) B/S Total Rs.15,40,000
A company Ltd. issued 10,000 shares of Rs.100 each at a discount of 10% to purchase the following assets and liabilities
| Land and Building | Rs.8,00,000 |
| Machinery | Rs.1,00,000 |
| Bills payable | Rs.50,000 |
Required: Entries for
Ans: Goodwill Rs.50,000
A company purchased the following assets at an agreed price of Rs. 5,50,000.
| Plant | Rs. 2,60,000 |
| Building | Rs. 3,65,000 |
The company paid the agreed price by issuing shares of Rs. 100 each at 10% premium.
Required: Entries for purchase of assets and issue of shares.
Ans: Capital reserve Rs. 75,000
A company issued 1,000 shares at Rs.100 per share to purchase plant of Rs.1,10,000.
Required: Entry for purchase of plant by issuing share.
Ans: Capital reserve Rs. 10,000
A Company issue 5,000 share of Rs. 100 each at 10% discount to purchase the following assets.
| Plant & Machinery | Rs. 4,00,000 |
| Debtors | Rs. 1,00,000 |
| Inventory | Rs. 20,000 |
Required: Journal entries for assets purchase by issuing shares.
Ans: Capital reserve Rs. 70,000
Q Company Ltd. purchase the following assets of R Company Ltd. at an agreed price of Rs. 4,40,000.
| Machinery | Rs. 3,20,000 |
| Stock | Rs. 2,10,000 |
The purchase price paid by issuing shares of Rs.100 each at 10% premium.
Required: Journal entries for assets purchase by issuing shares.
Ans: Capital reserve Rs. 90,000
A company issued 10,000 shares of Rs. 100 each at a premium of 20% to purchase the following assets:
| Land & building | Rs. 4,00,000 |
| Debtors | Rs. 2,50,000 |
| Furniture | Rs. 1,00,000 |
| Stock | Rs. 50,000 |
Required: Journal entries for purchase of assets and liabilities.
Ans: Goodwill Rs. 4,00,000
A company took over the following assets and liabilities at an agreed price of Rs. 4,95,000.
| Land & building | Rs. 7,00,000 |
| Furniture | Rs. 40,000 |
| Debtors | Rs. 60,000 |
| Creditors | Rs. 3,00,000 |
| Bills payable | Rs. 5,000 |
The company paid the purchase consideration amount by issuing shares of Rs. 100 each at 10% premium.
Required: Journal entries for purchase of assets and liabilities.
Ans: Purchase consideration Rs. 4,95,000
